Taxes

Taxes in Virginia are relatively low when compared to other states. In Virginia, unlike many other states, cities and counties are separate taxing entities. There are no overlapping tax structures, meaning that an item taxed by one location cannot be taxed by another.

This system reduces the number of taxing entities and there are generally no local taxes beyond those paid at the city or county level. For example, companies located at the MAMaC site need only pay taxes to Greensville County and the Commonwealth of Virginia.

Greensville County Taxes

Tax	Rate per $100 of Assessed Value
Real Estate	$0.45
Personal Property	$4.50
Machinery and Tools	$4.00 (effective rate: $0.80)
Motor Carriers	$4.00 (effective rate: $0.80)
Airplanes	$0.50

Virginia State Taxes

Tax	Rate
Corporate Income One of the lowest in the nation Has not changed since 1972	6%
Individual Income	2% on the first $3,000 3% on the next $2,000 5% on the net $12,000 5.75% over $17,000
Sales Seventh lowest in the nation Broad sales tax exemptions for business include all purchases used directly in production; gas, electricity, or water delivered through mains, lines, or pipes; and custom computer software	5% (4% state and 1% local)